Beneficiery Question

(Nova Scotia)

Someone has a life insurance policy with many beneficiery's. However, this person does not have life insurance on their mortgage. Would the mortgage have to be paid out before any beneficiery collects moeny from the policy?

Mortgage and Life Insurance

No. The benefit is paid direct to the beneficiary. Please be sure to discuss this further with a licensed insurance representative.

Life insurance quotes compared online in minutes

Ask another question at Life Insurance Questions

Other pages of interest:

Term Life Insurance in Canada

Whole Life Insurance Canada

Term or Whole Life Insurance

Canada Life Insurance

Disability Insurance Canada

Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility. Make sure you review the "please read" page.